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Non-Tech : Starnet (SNMM)Online gaming, sexsites, lottery, Sportsbook
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To: fishing1 who wrote (1903)2/17/1999 3:22:00 PM
From: Jay D.  Read Replies (1) of 8858
 
Just talked to Alan: said management holds 11.5M shares, 10M are in escrow and not trading, but could be trading up to 200K per month of this but are not. 500K are held by management and free trading. 1M are in Options at a basis of $.74/share which would go to the company and
anything above $.74/share would go to the seller. Alan said less than 4% of the shares held by management have been sold. Mark Dohlen sold 200K of his 300K of the 1M Optional shares held by management. Mark does have MUCH MORE than 100K Shares left available to him though since he will still share in the 10M shares held in escrow
and 500K in free trading! so the 200K shares DOES NOT represent most of Mark's holdings in SNMM! Also if SNMM needed the money to get to NASDAQ requirements of $4M in cash reserves, the 200K shares represents $148,000, look at how much SNMM DOES have in cash:
Close to $4M, not bad for a company just getting started!

Jay

PS: Alan said this QTR #'s look good!
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